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Springfield City Council Votes for $1.5M State Land Purchase
The Springfield City Council voted Tuesday night to send a letter of intent to the state stating planned to purchase a vacant, downtown lot from the state using $1.5 million in Tax Increment Finance funds (TIF).
The motion went through as expected, although not unanimously.
Ward 7 Alderman Joe McMenamin, who had previously voiced concern about what he believed to be a high price tag for the 1.95-acre parcel, wanted more information on the state's appraisals of the property.
"What I'm hearing from the public is they want us to spend our money wisely," McMenamin said. "They want to make sure those appraisals make sense. They want to make sure the city does not pay too much for this block of property."
The property is meant to be bought in conjunction with the abandoned YWCA next door. Mayor Mike Houston said the council plans to buy that with TIF money as well.
The city hopes to redevelop the block for mixed-used, including residential, commercial, green space and multi-level parking. That's what Houston told the state in a letter dated Aug. 17.